contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Analyst

Sauli Vilén

Matias Arola

CapMan is an investment company. The vision is to be a long-term owner and create added value for the shareholders in the long term. CapMan mainly invests in medium-sized unlisted companies, properties and infrastructure facilities around the Nordic market. Furthermore, the company offers asset management, purchasing activities as well as analysis, reporting and back office services. CapMan was founded in 1989 and its headquarters are in Helsinki, Finland.

Thanks! Nature sites and carbon sinks do not generate profit for now, let alone excess profit. For example, from artificial snags, bogs, restoration… Managing forest assets, on the other hand, is normal forest ownership. That’s exactly what I was thinking, that it’s jargon without concrete meaning.

They apparently refer to the Natural Capital segment: ”Our operations focus on managing sustainable forest investments, natural sites, and forest carbon sinks, as well as developing value in Europe and emerging markets. We consider investing in forest assets and natural resources to be a responsible activity for the environment and people, promoting sustainable, low-carbon development and generating returns for investors. CapMan expanded its operations into natural resource investing by acquiring Dasos Capital in early 2024.” Dasos states on its website that ”The company is an investment advisor to private equity funds investing in sustainable forests and natural capital (land, biodiversity, climate, water, etc.). Its fund investors include European pension funds and endowments, family offices and other investors. Assets under management total over EUR 1.5 billion.”

What are those measurable natural capital benefits? Are there concrete examples?

Arvopaperi’s Advent Calendar, Door 3: Three Cheap Growth Companies from the Helsinki Stock Exchange 3. Capman The asset management company Capman is forecast to grow its revenue by 22.6 percent in 2026. Its profit is estimated to grow by 52.6 percent. Based on 2026 forecasts, the P/E ratio is 13.1. Capman also receives an ‘add’ recommendation from Inderes. The forecasts are based on Capman succeeding in new sales in the coming years, and profit growth materializing. In its third-quarter interim report, Capman commented that cautious signs of market recovery are already visible. The company stated, among other things, that the M&A market has reactivated and the duration of fundraising for alternative asset classes has shortened compared to the previous two years. Full story behind the paywall:                   Arvopaperi – 3 Dec 25              Luukku 3: Kolme halpaa kasvuyhtiötä Helsingin pörssistä    Joulukalenterin kolmannesta luukusta paljastuu kolme yhtiötä, joissa yhdistyvät halpa arvostus sekä vahvat kasvuluvut tuloksen ja liikevaihdon osalta.

Let’s cut down the forests so Ikea can sell more junk

News Powered by Cision              CapMan Natural Capital myy metsäomaisuutta Inter IKEA Groupille    CapMan Natural Capital -lehdistötiedote  3.12.2025 klo 13.00  CapMan Natural Capital myy                             Dasos Timberland Fund II, a private equity fund managed by CapMan Natural Capital, has signed an agreement for the sale of a forest asset portfolio of approximately 24,000 hectares in Latvia and Lithuania to Inter IKEA Group. After more than a decade of active forest management, the forests have reached a mature stage in their value creation cycle. During its ownership, CapMan Natural Capital has managed the forests according to sustainable forest management principles and implemented a series of operational improvements. These measures have improved the condition and productivity of the forests and strengthened their long-term sustainability. As part of this work, the forests in both Latvia and Lithuania were certified according to the internationally recognized forest certification, the Forest Stewardship Council (FSC®). CapMan Natural Capital has enhanced the portfolio’s value by negotiating timber supply agreements and developing renewable energy-related opportunities. The transaction is expected to close in the first half of 2026 and is subject to customary regulatory approvals. The investment is estimated to exceed the fund’s target return, supporting a strong total return for investors. Following the transaction, CapMan Natural Capital will manage a total of approximately 215,000 hectares of land and continue to be one of the largest independent forest owners in the European Union, operating in eight different countries. The CapMan Dasos Sustainable Forest III special investment fund is open for new subscriptions quarterly, and CapMan Natural Capital’s European Forest Fund IV aims to complete its first closing by the end of 2025. Sustainability, generating measurable natural capital benefits, active value creation, and disciplined risk management will continue to be at the core of the team’s investment strategy.

News Powered by Cision              CapMan Growth sijoittaa Factory-ravintolaketjuun yhdessä Aku Vikströmin kanssa    CapMan Growth -lehdistötiedote 2.12.2025 klo 9.15    CapMan Growth Equity Fund III on                             CapMan Growth Equity Fund III has signed an agreement for a significant investment in the Factory restaurant chain, known for its high-quality, self-made home-style food with good value for money. The investment supports Factory’s ambitious growth strategy to expand into a nationwide chain and strengthen its presence in shopping centers as well. Restaurant industry veteran Aku Vikström also joins as a new owner to accelerate growth and will also join the company’s board of directors. Factory has expanded strongly in recent years and currently has 22 restaurants in Southern Finland, mainly in the Helsinki metropolitan area. Over the past 15 years, the company has demonstrated steady annual growth of over 20 percent and strong profitability, maintaining cash flow positivity even during the Covid-19 pandemic. In the fiscal year ending May 2025, Factory’s turnover was 20.8 million euros, and its profitability significantly exceeds the industry average. Factory’s recipe for success is based on its professional staff and strong corporate culture. Investment in diverse job roles and employee well-being has resulted in an exceptionally high level of commitment: eNPS 50. The company has approximately 200 employees, all in permanent employment or on hourly contracts without temporary agency workers. This combination of operational efficiency and motivated personnel has been a key factor behind Factory’s sustained success. The company’s growth plan focuses on opening new restaurants across Finland: in bustling office properties and increasingly in shopping centers, where the demand for straightforward, yet high-quality and healthy restaurant concepts is very strong. The goal is to at least double the number of restaurants in the coming years. Factory’s founder, current main owner Jani Antila, continues as a significant shareholder and in an active role in the company’s development as a board member. The company’s CEO and significant shareholder, Matti Karvonen, also continues in his role. CapMan Growth collaborates with the best industry experts, such as Aku Vikström, in connection with its investments. Vikström is the former CEO of NoHo Partners and Royal Ravintolat and currently serves as the CEO of Orkla Foods Europe. He is investing in the company and joining Factory’s board of directors. This investment is the fourth for CapMan Growth Equity Fund III.

CapMan

After the Q2 report, we revised our estimates upward due to a strong outlook. Currently, CapMan’s earnings are improving quickly. Relative to the estimated earnings improvement, the share is...

<p>After the Q2 report, we revised our estimates upward due to a strong outlook. Currently, CapMan’s earnings are improving quickly. Relative to the estimated earnings improvement, the share is still not particularly expensive and this together with a strong dividend yield keeps the share’s return/risk ratio sufficient. We do, however, point out that the current share price level is difficult to justify without improved earnings and that there is no room for error in this regard.</p> 

	2020	21e	22e
Revenue	43.0	59.3	68.7
growth-%	-12.2 %	38.0 %	15.8 %
EBIT (adj.)	12.3	49.0	43.7
EBIT-% (adj.)	28.7 %	82.6 %	63.6 %
EPS (adj.)	0.03	0.24	0.21
Dividend	0.14	0.15	0.16
Dividend %	6.0 %	7.9 %	8.5 %
P/E (adj.)	70.3	7.8	9.1
EV/EBITDA	28.7	6.6	7.5

CapMan: No reason to hop off

Key Estimate Figures2021-08-05

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